cardano The past 24 hours have seen a surge in open interest, with 1.99 billion ADA committed by futures traders. CoinGlass data shows that open interest surged 1.29% amid heightened speculation about possible approval of the Grayscale Spot Cardano Exchange Traded Fund (ETF).
Currency Data Shows ADA ETF Rising Positioning
According to the data, the total open interest of 1.99 billion ADA is worth $816.97 million. The increase in open interest comes as speculation regarding Grayscale’s ADA ETF approval permeates the market. Some investors believe that such approval could have a positive impact on the coin’s adoption and price outlook.
However, as stated update Powered by Cardanians, a Cardano-based news sharing platform, the application is still under review. Grayscale’s filing with the U.S. Securities and Exchange Commission (SEC) has not yet been decided.
Grayscale’s Spot Cardano $ADA ETF has not yet been approved by the SEC. 🇺🇸
This application is still under review and a decision is expected in early 2026.
We expect it to be approved within the next few weeks. pic.twitter.com/h9c1gVWqfN
— Cardanians (CRDN) (@Cardanians_io) January 7, 2026
Kardanian said the asset manager expects possible approval from the SEC in the coming weeks. This means that while hopes are rising for a positive decision from regulators, interested investors will still have to wait much longer.
Nevertheless, traders believe this news was enough to spark interest in Cardano, leading to an increase in open interest. In particular, Gate Exchange users are the most optimistic as a total of 502.05 million ADA worth $205.74 million has been committed, representing 25.18%.
Other exchanges with high interest include Binance, Bybit, and LBank with 16.33%, 12.8%, and 8.91%, respectively. In fiat currency terms, the values are $133.43 million, $105.26 million, and $72.82 million, respectively.
Traders appear to be taking advantage of Cardano’s poor performance to pile into Cardano in anticipation of potential upside from ETFs.
ADA price struggles despite bullish technical signals
Despite rising to a daily high of $0.4357, Cardano failed to break out of the major resistance level at $0.45, and volatility continued to decline.
As of this writing, Cardano is change The price is $0.4127, representing a decline of 1.56% in the last 24 hours. Trading volume also fell by 7.5% during the same period to $846.79 million.
According to a report by U.Today, Cardano is golden cross. However, weak momentum such as low trading volume and short-term profit-taking appears to be an obstacle.
There’s still hope ADA price could rise to $0.60 The coin should follow the same path as XRP. According to the asset’s weekly Bollinger Bands indicator, Cardano is structurally set to mirror XRP.
